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JPMorgan plans review notes due 2020 linked to S&P 500, Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Dec. 24 – JPMorgan Chase & Co. plans to price review notes due Jan. 27, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 10% to 12% per year if each index closes at or above its initial level on any annual review date. The exact call premium will be set at pricing.
If the notes are not called and the final level of each index is greater than or equal to its trigger value, 70% of its initial level, the payout at maturity will be par plus the contingent minimum return of 10%. Otherwise, investors will lose 1% for each 1% that the lesser-performing index’s final level is less than its initial level.
J.P. Morgan Securities LLC is the agent.
The notes are expected to price Jan. 22 and settle Jan. 29.
The Cusip number is 48128GGU8.
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